Retirees urged to annuitise now or face further rate falls

The provider's quarterly annuity index revealed conventional annuity rates dropped by 2.13% in the last three months, and enhanced annuities by 2.29%. It said the 2.1% drop in overall average annuity rates between March and June this year means the index has seen an overall drop of 14% since June 2009 when it was started. Distribution and marketing director Aston Goodey urged people about to retire to buy their annuity now to avoid potential further reductions in retirement income. Goodey (pictured) said: "With annuity rates unlikely to go up in the near future, there could be a cos...